Leveraging Data to Improve Forecasting
Manufacturers, wholesalers and distributors accumulate lots of data from their supply chains. We’re not suggesting that they need to use all this data right away; but many are using very little of it to improve their forecasts. By taking some small first steps with their existing data, manufacturers can make some giant leaps in their forecasting.
We are confident about these giant leaps because we have seen firsthand hundreds of companies increase forecast accuracy, service levels and inventory turns by taking small, but critical steps to mine the gold in their readily available demand data. For example, one of our global food customers recently improved product availability from 97% to 99% across its global distribution network, while shrinking inventories (measured in days of sales) by 41%.